Jostens, founded by Otto Josten in 1897, also makes championship rings, caps and graduation gowns, and varsity jackets.

The company generates annual revenue of about $740 million.

This is Jarden's second large acquisition this year. It said in July it would buy disposable tableware maker Waddington Group for $1.35 billion.

Martin Franklin, Jarden's founder and chairman, has built the company through acquisitions, making it one of the largest diversified consumer products makers in the United States, selling everything from firewood to condoms.

Jarden said Jostens will add to adjusted earnings per share in 2016 and will be reported as part of Jarden's outdoor solutions segment.